Plan Long-Term Care Today!
The best time to plan for the possibility of nursing home care is when you are still healthy. There are a variety of ways to offset the risk you face. Still, many families have not taken any steps to make sure they are protected.
You worked hard all of your life to pay off your mortgage and build a nest egg. You expected to live off your savings in the comfort of your own home, and you planned to leave your estate to your heirs at the appropriate time. Suddenly, the unthinkable happens and you now require full time care in a facility. What will happen to your life savings?
Unfortunately, many nursing home and assisted living facility residents end up exhausting all their assets paying for care. It does not have to be that way. With proper planning you can protect most of your estate.
Because the laws concerning Medicaid have become so complex, it is important that you seek advice from a well-qualified firm that has the knowledge and resources to guide you through the process. There are numerous legal tools that can be used to make sure that everything's not lost. In addition to your Will and Powers of Attorney, there are specialized Trusts and Deeds that can be used in certain situations.
Even if you are already in a long-term care facility, it is not too late to plan. Many people can protect their assets, while receiving the care they need. Consultation with an Estate and Medicaid Planning Law Firm is the first step in finding out what options you have.